The Hatch is ready to open doors and kick off a new year of startups and entrepreneurship. MSU’s student co-working space is designed to host, accelerate, cultivate and enable student entrepreneurs to grow their ideas through a creative, co-working environment.
The addition of 1,135 square feet of new space was funded through partner Lansing Economic Area Partnership, the Michigan Economic Development Corporation and a 3-year, $75,000 gift from MSUFCU. The new space is outfitted with a pair of HD videoconference-ready breakout rooms, a multimedia editing suite, new monitors, 24-hour keyfob access and video security, and perhaps the most important tool for startups: a new coffeepot.
The Hatch, part of MSU's Innovation Center, provides a valuable connection to numerous entrepreneurship resources, including access to grants and funding competitions, mentoring support, research assistance, design and web development.
"It's important for us to find ways to support and build the community we serve. Helping to grow a strong startup culture and retain talent right here is a win for our region, and our state,” said April Clobes, executive vice president and chief operating officer of MSU Federal Credit Union. “We’re proud to support students, and help entrepreneurs achieve their dreams of owning their own business.”
In the 2014 academic year, students in The Hatch raised more than $210,000 in startup support, through national and international business plan competitions and grants.
“In the last academic year, 156 teams of student startup candidates accessed the Hatch to explore business ideas, and get research, design, mentoring or funding help,” said Paul Jaques, “This is a much needed expansion that we are excited to share with students and the community.”
By sharing a common workspace, members are able to work on their own business ventures while collaborating with other students, Fellows and Mentors-In-Residence, to create diverse teams and increase successful outcomes.
This expansion takes the concept of building an entrepreneurship ecosystem one step further by expanding a community co-working space called the 300 Room, adjacent to the Hatch. Built to serve as a meeting room and networking space, the 1,900 square foot 300 Room is equipped with a media suite, and can be used during weekly “open hours” or via scheduled reservations made by contacting the Technology Innovation Center at (517) 708-3801.